Restaurant Brands International Inc. (NYSE:QSR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.7% in the 3rd quarter, Holdings Channel reports. The fund owned 616,351 shares of the restaurant operator’s stock after selling 10,806 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Restaurant Brands International were worth $44,451,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in QSR. EdgePoint Investment Group Inc. boosted its holdings in Restaurant Brands International by 4.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after purchasing an additional 536,124 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Restaurant Brands International by 15.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after buying an additional 773,783 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Restaurant Brands International by 10.3% in the second quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock valued at $390,678,000 after buying an additional 518,795 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Restaurant Brands International by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,144,430 shares of the restaurant operator’s stock worth $291,615,000 after acquiring an additional 169,458 shares during the period. Finally, Fiera Capital Corp raised its position in Restaurant Brands International by 6.5% in the third quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock worth $270,554,000 after acquiring an additional 227,203 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Transactions at Restaurant Brands International

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the sale, the insider now directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The trade was a 14.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Performance

Restaurant Brands International stock opened at $69.10 on Monday. The stock has a fifty day moving average price of $70.23 and a 200 day moving average price of $70.03. Restaurant Brands International Inc. has a 52 week low of $65.87 and a 52 week high of $83.29. The firm has a market capitalization of $22.37 billion, a P/E ratio of 17.32, a PEG ratio of 2.27 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, December 20th. Restaurant Brands International’s dividend payout ratio is currently 58.15%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QSR. Argus decreased their target price on shares of Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. KeyCorp lowered their target price on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company reduced their price target on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. CIBC lowered their price target on Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a report on Wednesday, November 6th. Finally, Truist Financial reduced their price objective on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.37.

About Restaurant Brands International

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.